EX-4.7
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v338183\_ex4-7.htm
EXHIBIT 4.7



**Exhibit 4.7**



**English Summary
of the Capital Lease Agreement dated as of October 23, 2012, by and among Minsheng Hongtai (Tianjin) Aviation Leasing Co., Ltd.
and Henan Xinyuan Real Estate Co., Ltd. (hereinafter the “Agreement”) (No. MSHT-2012-0001-F-ZZ)** **(Original Language:
Chinese)**



**Parties**


Lessor: Minsheng Hongtai
(Tianjin) Aviation Leasing Co., Ltd.(“Minsheng”).


Lessee: Henan Xinyuan
Real Estate Co., Ltd. (“Henan Xinyuan”).


 


**Recital**


Per Henan Xinyuan’s
request, Minsheng entered into a purchase and sale agreement (the “Purchase Agreement”) with Gulfstream Aerospace Corporation
(the “Supplier”) on September 30, 2011 for the purchase of a Gulf 450 aircraft (the “Aircraft”). The Parties
voluntarily enter into this Agreement under the PRC law to create a capital lease on the Aircraft.


 


**Nature of the Agreement**


The Agreement is a “capital
lease agreement” defined in Article 14 of PRC Contract Law. Henan Xinyuan leases the Aircraft from Minsheng, who purchased
the Aircraft in order to lease it to Henan Xinyuan. Henan Xinyuan shall pay rent to Minsheng as provided in this Agreement.


 


**Aircraft**


The Aircraft was acquired
by Minsheng pursuant to the Purchase Agreement, and includes relevant parts and files.